Latest news with #developingnations
Bloomberg
2 days ago
- Business
- Bloomberg
Emerging-Market Assets Extend Gains as Korean Rally Continues
Emerging-market stocks rose for a third consecutive session, with South Korean assets extending their world-beating gains after a presidential election. MSCI's EM stock gauge is heading for 2.4% gains in the past three days. An index of developing-nation currencies also edged higher as the dollar has remained under pressure from investors expecting a more dovish Federal Reserve after softer US employment data.
Bloomberg
6 days ago
- Business
- Bloomberg
Carry Trades Roar Back Into Favor as Emerging Currencies Rally
Emerging market carry trades are taking off again, as currency volatility subsides amid signs President Donald Trump's aggressive tariffs may not get fully enacted. An index of carry returns — for which a trader borrows in a low-yielding currency and then invests in another offering higher returns, hit a seven-year high in late May. Asset managers have boosted long positions in developing-nation currencies in recent weeks, with those on Mexico's peso reaching a nine-month high, based on CME Group Inc. data.
Coin Geek
12-05-2025
- Business
- Coin Geek
Digital wallet popularity in cross-border transfers explodes
Getting your Trinity Audio player ready... Digital wallets are the most popular platform for cross-border transactions, accounting for twice as many respondents as the next best option, a new report has revealed. A survey conducted by PYMNTS and TerraPay found that consumers are 2.5 times more likely to select digital wallets as their top choice for cross-border transactions than money transfer services and bank accounts, respectively. Overall, 4 in 10 consumers prefer digital wallets, with the U.S. leading at 44%. Of the surveyed nations, Singapore was the outlier, with 37% selecting bank accounts while 27% chose digital wallets. Source: PYMNTS Cross-border payments are a gigantic industry. One report found that, in 2024, non-wholesale payments hit $40 trillion, with B2B payments accounting for the lion's share. Consumer-to-consumer payments hit $2 trillion and are expected to grow by 58% by 2032 to hit $3.1 trillion. However, the market still suffers from slow, costly and inaccessible channels, especially for consumers in developing nations. While consumers lamented all these hurdles, speed was the most oft-cited challenge. This has pushed more consumers to explore digital wallets, which are faster than traditional channels. 16% of respondents cited 'payments are faster' as the main reason they chose digital wallets, with ease of use, reliability and wide acceptance each getting 10%. This need for speed is a universal demand, including in the blockchain world. Networks like BTC and Ethereum, still trapped in the pre-adoption era where a handful of transactions per second were good enough, have been a primary hindrance to mainstream blockchain adoption. BSV, on the other hand, continues to scale, and with the Teranode upgrade, the network will meet the ever-rising demands in payments, artificial intelligence (AI), social media and beyond. The report further highlighted the ongoing battle between traditional finance and fintechs in cross-border payments. It found that in the U.S., only 49% of banks allow consumers to send and receive cross-border payments via digital wallets. However, 98% enable bank account transfers. It's similar in the U.K., where only 58% of the banks support digital wallet transfers while 92% support same-day ACH. The most cited challenge by banks was that digital wallets are 'too complicated to use,' with high costs and poor security as the other common challenges. Watch: RockWallet is the go-to app for everyone title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
